Tilt Investment Management Holdings PBC Sells 5,073 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Tilt Investment Management Holdings PBC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 23.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,570 shares of the network equipment provider’s stock after selling 5,073 shares during the quarter. Cisco Systems makes up 0.9% of Tilt Investment Management Holdings PBC’s portfolio, making the stock its 24th largest holding. Tilt Investment Management Holdings PBC’s holdings in Cisco Systems were worth $837,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in Cisco Systems by 2.2% during the first quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock worth $9,664,544,000 after acquiring an additional 4,061,022 shares in the last quarter. Morgan Stanley increased its stake in shares of Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after buying an additional 9,160,347 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Cisco Systems by 112,307.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after buying an additional 59,466,550 shares in the last quarter. FMR LLC increased its stake in shares of Cisco Systems by 3.2% in the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after buying an additional 1,790,717 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Cisco Systems by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock valued at $2,975,139,000 after buying an additional 3,087,294 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 target price for the company. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Piper Sandler lifted their price objective on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $60.00 in a research report on Monday. Finally, UBS Group raised their target price on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average price target of $56.03.

Cisco Systems Trading Up 0.5 %

Shares of NASDAQ:CSCO traded up $0.26 during mid-day trading on Thursday, hitting $48.05. The company had a trading volume of 7,071,553 shares, compared to its average volume of 19,407,898. The firm has a fifty day moving average price of $49.14 and a 200 day moving average price of $50.31. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The company has a market capitalization of $194.56 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 2.75 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same period in the previous year, the firm earned $0.76 EPS. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.33%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is currently 48.63%.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.